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BAD CHECK RECOVERY

Kross, Lieberman & Stone considers check collection a natural and integrated part of the collection process. We deal often with return items and take these items very seriously. Our letter alone, sent certified and explaining to the debtor the possible consequences involved when writing a bad check, often in and of itself can get payment. We attempt to effect immediate recovery of the complete balance of the check plus service charges. We are able to do this by offering the debtor other means for which they can pay including credit card payment. We also follow through with our policy of attempting immediate contact verbally on every account. This includes the Bad Check placements. If we are waiting for a certified letter to be delivered with a return receipt, then you are waiting for your money.

This service is included in your regular rate and depending on the balance (smaller balance claims do require higher rates not exceeding 40% of the total recovery). The net result is that you receive higher collection recoveries and in the end more money.

Many companies believe they should place their bad checks exclusively with companies who have touted themselves as bad check recovery companies. As a credit giver or a company who has been paid with insufficient funds you need to access the cost involved to recover these funds.

Often the check recovery firms are using a margin of profit and floating cash which includes your check service charge and contract fees. There are a couple of scenario's all of which amount to you receiving only the face value of your check(s). Often there is an annual contract rate; sometimes based on the number of checks you place sometimes it is just a set fee. Either way, you are paying up front. Next they place signs on-site which will make potential check writers aware that a service charge will be added to the check along with any collection charges.

This too can work a few different ways. The check firm can add their fees (depending on state) and may attempt to collect the "collection charges" and or three times the value of the check (again depending on state). Ultimately, when collected they have received upfront funds from you and in turn return the face value of the presented check and try to make you believe it has cost you nothing. If they collect three times the amount of the check or more likely the cost of collection they could be netting much more than the placed value of the check. Often the recovery they send you does not include the 25.00 additional charges for recovery. They may have collected a $25.00 check, received $50.00, and remitted to you only the $25.00. They have received $25.00 for their effort. That could be your Money!! They kept 50% of your money, plus they have often charged you an annual non-contingent fee to do so. Also worth noting is some companies will post monies paid towards the bad check against the 25.00 service fee and against collection charges first, then pay down the principle balance. If the debtor quits paying they win and you lose.

With Kross, Lieberman & Stone when you place for recovery $25.00 along with a service fee of $25.00 you will receive the balance collected less at most being 40%. Net result $30.00 recovery and no contract fees.

Clients currently receive this service as apart of their current fee structure. The weight of Kross, Lieberman & Stone is behind you and we get results.